Question
Asked Nov 26, 2019
1 views

State two effects of Forfeiture of shares. 

check_circle

Expert Answer

Step 1

Forfeiture of shares: 

Forfeiture of share means terminating the shares of the stockholder for non-payment of calls due. However, shares of the company can be forfeited only if the Article of Associa...

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in

Business

Accounting

Final Accounts for Partnership

Related Accounting Q&A

Find answers to questions asked by student like you

Show more Q&A add
question_answer

Q: Sheridan Company purchased equipment in 2019 at a cost of $917000. Two years later it became apparen...

A: Required journal entry:

question_answer

Q: Keep-Or-Drop Decision, Alternatives, Relevant Costs Reshier Company makes three types of rug shampoo...

A: 1.The activity costs can be allocated between different models based on activity usage as follows

question_answer

Q: Define salvage value? Give three examples?

A: Salvage value: Projected resale value of an asset, at the time of useful life. It is known as Salvag...

question_answer

Q: Clementine Company makes skateboards. They prepare master and flexible budgets and then perform vari...

A: In flexible budgeting, variance is computed by taking the budgeted units equal to the actual units. ...

question_answer

Q: Why are disclosures important in financial statement and what are its benefits?

A: Click to see the answer

question_answer

Q: During two consecutive years, Antlers Company, Inc., completed the following transactions: Year 1 Ju...

A: Bonds: Bonds are the long-term promissory notes that are represented by a company while borrowing mo...

question_answer

Q: Divisional Performance Analysis and Evaluation The vice president of operations of Free Ride Bike Co...

A: 1.Prepare condensed divisional income statements for the year ended December 31, 20Y7, assuming that...

question_answer

Q: What is inventory turnover Ratio? Explain its significance.

A: Explain the meaning of inventory turnover ratio and its significance:Inventory turnover ratio: Inven...

question_answer

Q: Six Measures of Solvency or Profitability The following data were taken from the financial statement...

A: a. Calculate the ratio of fixed assets to long term liabilities.